WebMD Hardly a Model of Health

The health website operator's stock is soaring due to a bullish forecast. However, with no profits, WebMD remains risky.

Shares of WebMD soared after announcing better-than-expected fourth-quarter results. However, the Street's prognosis may be too optimistic.

Late Thursday, WebMD (ticker: WBMD) reported a loss of $6.1 million, or 12 cents a share, down from a year-ago profit of 33 cents a share. Excluding one-time items, including restructuring charges, the health information provider lost an adjusted eight cents a share, compared with year-earlier...